Eastern Caribbean CBDC expands to another two territories
Two more Eastern Caribbean nations have begun using the DCash system, which allows payments and transfers of the digital EC dollar CBDC.
Two more Eastern Caribbean nations have begun using the DCash system, which allows payments and transfers of the digital EC dollar CBDC.
Ethereum is still above the $4,250 support against the US Dollar. ETH price could stage a strong rally if it clears the $4,450 resistance zone in the near term. Ethereum is stable and supported above the $4,200 and $4,250 levels. The price is now trading above $4,300 and the 100 hourly simple moving average. There is a key bullish trend line forming with support near $4,320 on the hourly chart of ETH/USD (data feed via Kraken). The pair could start a fresh rally if it clears the key $4,450 resistance zone. Ethereum Price Remains Supported Ethereum consolidated in a range above $4,100 and $4,200 levels. ETH climbed above the $4,400 level, but it is still struggling to clear a confluence resistance near $4,450. The recent high was formed near $4,456 and it is now consolidating gains. Ether is now trading above $4,300 and the 100 hourly simple moving average. There is also a key bullish trend line forming with support near $4,320 on the hourly chart of ETH/USD. The price is trading nicely above the 23.6% Fib retracement level of the recent wave from the $3,900 swing low to $4,456 high. An initial resistance on the upside is near the $4,400 level. Source: ETHUSD on TradingView.com The first major resistance is near the $4,420 level. The next major hurdle is near the $4,450 level. A clear break and close above the $4,450 level could stage a steady increase in the near term. In the stated case, the price could drift towards the $4,600 level in the near term. Dips Limited in ETH? If ethereum fails to start a fresh increase above the $4,450 level, it could extend its downside correction. An initial support on the downside is near the $4,325 level. The key support is now forming near the $4,320 level and the 100 hourly simple moving average. If there is a clear break below the $4,320 support, the price could extend losses. The next major breakdown support is $4,200 or the 50% Fib retracement level of the recent wave from the $3,900 swing low to $4,456 high, below which the price could decline towards $4,000. Technical Indicators Hourly MACD – The MACD for ETH/USD is gaining pace in the bullish zone. Hourly RSI – The RSI for ETH/USD is near the 50 level. Major Support Level – $4,200 Major Resistance Level – $4,450
Payments giant Visa has launched global crypto advisory services. The company’s executive says: “We’ve seen a material shift in our clients’ mindset in the last year, from a desire to explore and experiment with crypto, to actually building a strategy and product roadmap.” Visa’s Global Crypto Advisory Services Payments giant Visa announced Wednesday the launch […]
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I posted this as a reply to another post however I figured I'd share here. Hope this helps some people. Be patient. The LHR is so so very frustrating to deal with. Hey there, I was looking to see how some of the dual miners were making out. Sounds like not so good! I gave…
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It’s a new dawn. Credit card giant Visa is now in the cryptocurrency business. They won’t be buying and selling yet, though. Its new division will focus on advising everyone. From retail customers to financial institutions, even central banks can get information from Visa’s crypto experts. A lot of people still value the input traditional institutions can give, even if they don’t have the track record. So this seems to be good news for the crypto industry as a whole. Related Reading | As Amazon Takes on Visa, Does Cryptocurrency Offer the Real Alternative? Reuters informs: “Visa’s services include educating institutions about cryptocurrencies, allowing clients to use the payment processor’s network for digital offerings, and helping manage backend operations.” And Visa promises: “Tap crypto’s potential with a pioneer in global payments. For crypto to realize its full potential, we are connecting crypto and blockchain networks to our trusted, global payment network. And we’re propelling innovation to deliver even more access and value to the crypto ecosystem.” Visa’s CFO Still Doesn’t Understand Bitcoin In a bizarre move, considering they’re offering expert advice in cryptocurrencies, Visa’s CFO said the darndest thing. Vasant Prabhu told Reuters: “If the price is going to fluctuate from $60,000 to $50,000 in a few hours, it’s a very difficult thing for a merchant to accept (bitcoin) as a currency. I don’t know if cryptocurrencies like bitcoin will ever be a medium of exchange. Stablecoins will.” Bitcoin is already a medium of exchange. It’s legal tender in an entire country. It’s a process, but merchants will quickly learn the benefits of holding a deflationary currency instead of an inflationary one. If Prabhu doesn’t understand this, how does he expect his clients to take his advice seriously? BTC price chart for 12/09/2021 on Gemini | Source: BTC/USD on TradingView.com What Did Visa’s Crypto Research Department Found Out? As an introduction to the company’s crypto research department, the company says, “For financial institutions eager to attract or retain customers with a crypto offering, retailers looking to delve into NFTs, or central banks exploring digital currencies, understanding the crypto ecosystem is a vital first step.” As the first show of power, they produced “The Crypto Phenomenon: Consumer Attitudes & Usage.” A report that, among other things, found out the following: “Almost universal awareness of cryptocurrency at 94% globally among adults with discretion over their household finances.” “Nearly one in three crypto-aware consumers already own or use cryptocurrency, with the majority saying that their use has increased in the past year (62% Owners), and two-thirds expecting that they will increase the share of their investable assets invested in crypto in the next 12 months (66% Owners).” “In Emerging Markets, ownership (37%) and curiosity about (27%) cryptocurrency is even more pronounced.” “The biggest drivers of owning and using cryptocurrency are to take part in the “financial way of the future” (42% Owners) and to build wealth (41% Owners)” “Most crypto owners would be interested in buying cryptocurrency from their bank (85% Owners)” “More than a third of current owners indicate that they plan to switch to a bank that offers crypto products within the next 12 months (39% Owners).” “The significant majority of consumers who use cryptocurrency express interest in crypto-linked cards (83% Active Owners) and rewards (86% Active Owners).” Related Reading | Visa Is Building A Payment Channel Network On Ethereum Conclusions To Avoid Confusion Even though Visa’s study seems to be skewed to what its clients need to hear to acquire their new service, the results are interesting. It’s useful to see what the research department of a company with that kind of resources can come up with. Let’s hope they keep it coming. And let’s also hope that Visa’s CTO reads “The Bitcoin Standard,” because that quote was embarrassing. Featured Image: Visa and Bitcoin, taken from their site | Charts by TradingView
The amount of respondents who said they would be more likely to invest their money in crypto than traditional stocks increased 140% in just five months.
